Latest Economic history Stories

MEDFORD, Mass., April 6 /PRNewswire/ -- A technology platform enabling institutional investors to recover more from class action settlements is the basis for Financial Recovery Technologies (FRT), a new business venture from The Cross Country Group (CCG). FRT, located with CCG at One Cabot Road, uses proprietary algorithms developed in collaboration with an expert team of financial engineers from Massachusetts Institute of Technology and recent industry data to help institutions better...

PRINCETON, N.J., March 30 /PRNewswire/ -- In a study released today, RONIN has polled nearly 1,500 companies across twelve countries on how the recession is impacting their companies and it reveals that there has been little change in sentiment in the past 12 months. Throughout the period, 87% of companies have been negatively impacted, with 48% being "strongly" or "extremely" negatively impacted. The study has focused on the IT function in companies and shows that they too are as...

Questionable lending helped sink the U.S. economy, but also provided a lifeline that kept countless firms afloat and averted an even deeper recession, according to research by a University of Illinois finance expert.Murillo Campello says a survey of corporate executives found that many small and mid-sized firms survived the economic storm by tapping easy, low-cost lines of credit locked in ahead of the downturn, during an era of loose lending that also included sub-prime home...

HOUSTON, March 14 /PRNewswire/ -- Washington Mutual shareholders (Stock Symbols: WAMUQ, WAHUQ, WAMPQ, WAMKQ) and WamuTruth.com staff were shocked to discover on Friday that Brian Rosen, council for WMI, has agreed to a proposed "settlement" with JP Morgan and the FDIC of all outstanding litigation and claims without consultation or discussion with the Official Equity Committee of Washington Mutual. This unprecedented surrender involves giving away all of the company's rightful assets and...

Now Offering 100% Financing Nationwide VIENNA, Va., March 5 /PRNewswire-USNewswire/ -- Navy Federal Credit Union is pleased to announce $7 billion has been committed to new mortgages for Navy Federal members in 2010, whether they're buying a new home or refinancing. This new commitment follows 2009 mortgage originations of over $6.2 billion, the highest year for new mortgages in Navy Federal's history. Additionally, in light of opportunities in the current market, Navy Federal announces 100...

LAS VEGAS, Jan. 12 /PRNewswire-FirstCall/ -- International Game Technology (NYSE: IGT) announced today that its board of directors elected Paget L. Alves to serve as a director for the company, pending applicable regulatory approval. Alves, 55, is the President of the Business Markets Group (BMG) for Sprint Nextel, and is responsible for Sprint's sales and marketing to all enterprise and public sector customers. Alves also oversees the development of strategic alliances for Sprint. "Paget...

LOS ANGELES, Sept. 29 /PRNewswire-FirstCall/ -- The most recent Executive Quiz results released today by The Korn/Ferry Institute reveal a significant improvement in the overall attitude of global executives about the direction of the economy, but lingering anxiety about labor markets. According to the survey, a substantially higher percentage of executives feel the economy is in recovery. However, the majority of executives say the labor market will lag the financial markets in regaining...

The best known U.S. market index, Dow Jones industrial average, has a chance to reclaim numerical glory this week, at least symbolically. The Dow took a run at 10,000 points last week but sputtered, slipped -- and basically choked -- 100 points shy of the mark. Abstract or not, it was a touch embarrassing. In the background, White House officials were patting themselves on the back for the market's ability to weather the historic squalls of 2008 year ago. Fed Chairman Ben Bernanke all but...

U.S. markets wavered Thursday morning after a downturn in the previous trading session prompted by the Federal Reserve Bank. The Fed's announcement Wednesday that it would maintain key lending rates at zero to 0.25 percent triggered a late afternoon drop in U.S. indexes, the Dow Jones industrial average closing 81 points down after spending most of the day in positive territory. In midmorning trading Thursday, the DJIA gained 0.07 percent, 6.88 points, to 9,755.43. The Standard & Poor's...

U.S. Treasury Secretary Timothy Geithner warned Washington lawmakers complacency was no friend to regulatory reform, and taking no action was unacceptable. Geithner told members of the House Financial Services Committee time is the enemy of reform, The Washington Post reported Wednesday. As some normalcy returns to our financial system and our economy, we cannot let it be cause for complacency, he said. In Wednesday's exchange -- and in hearings committee Chairman Barney Frank plans to begin...